Exam (elaborations)
Wise Certification Test Verified 2024
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Wise Certification Test Verified 2024
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Wise Certification Test Verified 2024A 60-year old makes a withdraw from his Roth Individual Retirement Account (IRA.) The
money withdrawn will be - ANSWER-Tax free
A company offers a defined-contribution pension plan which means that upon retirement
the employee will receive - ANSWER-The total amount of money contributed plus
investment earnings
A company offers a defined-contribution pension plan which means that upon retirement
the employee will receive? - ANSWER-tax and penalty fee
A creditor determines your creditworthiness based on: - ANSWER-Address
A man budgeted $200 a month for clothing. This month the man spent $150 on clothing
therefore that budget item is considered to have - ANSWER-a budget variance
A man budgeted $200 a month for clothing. This month the man spent $150 on clothing
therefore that budgeted item is considered to have - ANSWER-A budget variance
A person buys a flat screen plasma, theater-like tv. The person has homeowners
insurance. Why would it be appropriate to add a personal property floater to that
insurance. - ANSWER-To cover the cost of replacement should the tv get get damaged
or stolen
A person buys a flat screen, plasma, theater-like tv. The person has homeowners
insurance. Why would it be appropriate to add a personal property floater to that
insurance? - ANSWER-To cover the cost of the replacement should the tv get damaged
or stolen
A person buys a homeowner's insurance policy with a $250 deductible, which means
the person will - ANSWER-Have to pay the first $250 which will be deducted from the
claim settlement paid by the insurance company
A person complains about how expensive it is to be a cigarette smoker. Once of the
reasons cigarettes are so expensive is that - ANSWER-The government imposes an
excise tax on them
A person complains about ow expensive it is to be a cigarette smoker. One of the
reasons cigarettes are so expensive is that - ANSWER-the government imposes an
excise tax on them
A person has 3 credit cards with very large outstanding balances and is unable to make
payments on any of them. Which action should the person take? - ANSWER-Notify the
credit card companies in order to negotiate a new payment plan
, A person has three credit cards with very large outstanding balances and is unable to
make payments on any of them. Which action should the person take? - ANSWER-
Notify the credit card companies in order to negotiate a new payment plan
A person is depositing $20 in cash and a check for $50. On the checking account
deposit slip, the person should - ANSWER-List the cash deposit it separately from the
check as well as the total of the deposit
A person owns a stock that pays a $2.00 a share dividend. If the person chooses to
reinvest that dividend, this means that the $2.00 will go toward buying - ANSWER-More
of the same stock
A person owns a stock that pays a $2.00 a share dividend. If the person chooses to
reinvest that dividend, this means that the $2.00 will go toward buying - ANSWER-More
of the same stock
A persons debt ratio also shows the relationship between debt and net worth. The lower
the ratio the - ANSWER-better off financially the person is
A persons debt ration shows the relationship between debt and net worth. The lower the
ratio the - ANSWER-Better off financially the person is
A pharmacy is to drugs as the American Stock Exchange is to: - ANSWER-Securities
A pharmacy is to drugs as the American Stock Exchange is to: - ANSWER-Securities
A students grandmother has decided to buy a long term health care insurance policy.
The student's grandmother's decision is most likely related to the fact that this type of
coverage - ANSWER-is not offered by Medicare
A teenage boy has opened a checking account. He is surprised to find that though he is
getting a written bank statement each month he is not getting his cancelled checks
returned. The teen should be aware that the reason cancelled checks are NOT returned
is to - ANSWER-Save the bank money associated with returning copies of these checks
A type of electronic funds transfer (EFT) is: - ANSWER-An ATM transaction
A woman has just received a very expensive piece of jewelry. The woman has
homeowners insurance. Which statement would be most appropriate for her to make to
her insurance agent? - ANSWER-"I think I need a personal property floater."
A woman has just received a very expensive piece of jewelry. The woman has
homeowners insurance. Which statement would it be most appropriate for her to make t
her insurance agent? - ANSWER-"I think I need a personal property floater."
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